PC Sales Drive Dell’s ‘Unprecedented’ Revenue Leap
Dell has posted record financial results for the quarter ending October, breaking numerous third-quarter records in what co-CEO Chuck Whitten says “will prove to be a historic year for Dell.”
The company generated record revenue of US$28.4 billion, up 21 per cent, which was “driven by growth in all business units, customer segments and geographies, as well as broad strength across commercial PCs, servers and storage.”
Operating income was also a third quarter record, of US$1.3 billion, up 19 per cent year-on-year, as was non-GAAP operating income (US$2.9 billion, up 5 per cent).
The company’s ‘Client Solutions Group’ did the majority of the heavy lifting during the quarter, buoyed by PC shipments, which were up 26.6 per cent year-on-year. This took the company’s global PC share up 3 per cent, to command 17/4 per cent of the market.
Commercial revenue jumped a whopping 40 per cent, to hit US$12.3 billion.
“We continue to deliver strong results, with more than $13 billion in cash flow from operations on a trailing-twelve-month basis,” said CFO Tom Sweet.
“The digital trends are tailwinds for our business, and along with our strategy and financial flexibility, lead us to be optimistic about our long-term growth prospects.”
Jeff Clarke, vice chairman and co-chief operating officer noted that Dell “are clearly winning in our core” business.
“Our product, global operations and sales teams did an outstanding job this quarter as we shipped a record number of products and delivered record revenue of $28.4 billion.”
Chuck Whitten, co-chief operating officer, Dell Technologies, was also in a celebratory mood.
“We’re three quarters into what will prove to be a historic year for Dell,” he said, “and we are just beginning to write the next chapter of the Dell Technologies story.
“We are uniquely positioned in the data era, with durable advantages and in adjacent market-leading positions. Our strategy is focused on growing our core business and in adjacent multi-billion-dollar markets including multi-cloud, edge, telecom and as-a-Service.”